In a recent Perspective column, Thomas V. Murphy claimed that, “FDR’s New Deal government spending including World War II defense preparations restored the economy.”

This myth is habitually perpetuated by those in government, academia and the media who believe in massive government intervention in the economy and ignore constitutional restraints on federal power.

Roosevelt’s New Deal was essentially a continuation of the Hoover administration’s disastrous policies, which turned a recession into a depression. Despite pledging the opposite, Roosevelt raised taxes and spending dramatically, created enormous deficits and debt, destroyed the gold standard, greatly expanded the size and scope of the federal government and repeatedly violated the Constitution.

Yet, the New Deal was an abject failure, as unemployment remained very high. No other result was possible, since money used to “stimulate” the economy must come from higher taxes, borrowing, or printing currency — all of which are economically devastating.

Such plans simply transfer money from the private sector to the public one, resulting in no net job creation. Political economist Frederic Bastiat warned of the economic fallacies that occur when we don’t take into account “what is seen and what is not seen.”